Lizhong Wheel: Co has entered into a JV with Italian co HT&L Fitting to invest in Changsha. Co has invested Rmb16.2m to hold 49% of the JV which will construct a plant of 30 mu and have an annual capacity of 1m set of assembled wheels per annum. The JV will also provide assembly of automobile wheels, tyres and other services…
Targeted customers include Guangzhou Fiat and other large carmakers in China. HT&L supplies to brands such as Fiat, Lamborghini, Volkswagen amongst other brand. Lizhong Wheel is the leading manufacturer of aluminium alloy wheels in China and now trades at current P/E of 8.2x.
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